Bitfinex Warns Clients of Security Scam

Hong Kong based altcoin exchange Bitfinex has made an announcement alerting clients to a new phenomenon in which clients have been asked to disclose personal information regarding their accounts. In other instances, traders had been requested to download certain, unnamed software in order to protect their investment accounts.

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The individuals conducting the calls had been falsely claiming to be associated with Bitfinex. The cryptocurrency exchange, conversely, states that the company and its third party associates do not contact Bitfinex clients via phone calls with special offers nor requests them to install any software.

This is not Bitfinex’s first rodeo with cybersecurity issues. A year ago, the company website was hacked and had $65 billion stolen from it. This incident caused a major price drop for Bitcoin, causing its value to fall more than $100.

Bitfinex advises that traders exercise caution, and suggests that they follow some simple rules to ensure their safety. Advertisements should be regarded as phishing as a general rule of thumb. Clients should further refrain from clicking on links, and type the url addresses of trustworthy websites themselves. The company further encourages traders to bookmark said websites and adhere to using these only.

Traders should not open links from unknown or suspicious email sources. Last but definitely not least, Bitfinex warns investors to never disclose sensitive personal information such as passwords to anyone, including Bitfinex’s own representatives.

In a separate announcement, Bitfinex assured its clients that the company is doing its best to handle the increasing number of security issues. Not only has the company addressed more client complaints, it has also hired more staff to better handle any issues that may arise.

Back in April, Bitfinex reportedly stopped accepting funds deposited via wire transfers. Though the company did not explain its decision, it seemed to stem from pressure put on Bitfinex’s Taiwanese banks by Wells Fargo, a well known American global banking and other financial services group. The Bitcoin exchange had confirmed the fact by commenting: “Beginning April 18, 2017, all incoming wires to Bitfinex will be blocked and refused by our Taiwan banks. This applies to all fiat currencies at the present time. Accordingly, we ask customers to avoid sending incoming wires to us until further notice, effective immediately.”.

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